E.U. to Send Ukraine $15B

Geert Vanden Wijngaert

One day after the White House announced $1 billion in loan guarantees for Ukraine, the European Union announced Wednesday is is offering the country up to $15 billion in grants and loans. The new government in Kiev has been struggling with a financial crisis since before the unrest. Some $4 billion would be in loan and development grants over the next several years, while $11 billion would come in the form of financing for infrastructure and development projects by European financial institutions. The package would be contingent on IMF reforms.